CANADA STOCKS-TSX may open lower as commodities sag

Fri Jun 12, 2009 9:11am EDT
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TORONTO, June 12 (Reuters) - Toronto's main stock index could open lower on Friday after touching its highest level in nearly eight months as its heavily-weighted energy sector is pressured by falling oil prices.

World stocks were flat ahead of a G8 meeting, while U.S. stock index futures pointed to a lower open on falling oil prices and ahead of consumer confidence data. [MKTS/GLOB]

On Thursday, the S&P/TSX composite index .GSPTSE finished up 116.13 points, or 1.1 percent, at 10,714.11. Earlier in the session it rose 128 points to 10,726.01, which marked its highest level since Oct. 14.

Here is some news that could affect the market:


Exxon Mobil Corp (XOM.N: Quote) said on Thursday it has joined TransCanada Corp's (TRP.TO: Quote) effort to build a $26 billion Alaska natural gas pipeline, giving the long-sought project key support from one of the main Arctic gas players. [ID:nN1150958]


Canadian Finance Minister Jim Flaherty said in a television interview on Thursday he sees a more than 50 percent chance there will be a federal election this summer, even though polls show Canadians do not want one.[ID:nN11523579]

Elsewhere, Canada's opposition Liberals have built on their slim lead over the governing Conservatives, but neither party would be assured of clear victory if an election were held today, a poll released on Thursday showed.[ID:nN11523570]   Continued...